Nio Inc. announced last week, it would open smaller showrooms for better sales network, cut jobs and spin off some business units after reporting a second-quarter loss of US$478.6 million, 25 per cent more than its first-quarter loss. The move was decided to control massive cash crunch amid slowing electric vehicle sales in China after the subsidy cut.
News ID: 6545 Publish Date : 2019/09/28